By Julie Smith, President, Bozzuto Management Company
**This article orginially appeared in Delta Associates’ Mid-Atlantic Class A Apartment Market Report.
The FIFA World Cup is once again upon us. This eagerly awaited tournament has been held nineteen times since 1930. Over a four week period, 32 teams from countries spanning the globe compete for the coveted title of World Champions. For many of these nations, soccer – or football as it is internationally recognized – is equal parts religion and sport. The stakes are high – as evidenced by the tension on the faces of the players, the coaches, the crazy outfits, colorful face painting and wild decoration of the ever-loyal fans.
With the exception of the Olympics, the World Cup is the most widely viewed sporting event in the world. The cumulative viewership of the 2006 World Cup was estimated to exceed 26 billion viewers with more than 715 million people watching the final match. That represents one out of every nine people on the planet.
So why do we care? And what does this have to do with the apartment industry? Just about everything. So we’d better start paying attention. Our business depends on it. Take a look at who is living in our collective buildings today. The Washington region is highly international. People move in and out of our area from all over the country and all over the world. At Bozzuto, we have associates on our teams from over fifty nations and our properties are no different. We are witnessing a cultural movement and we view that as great news.
According to the Harvard Business School, multicultural networks promote creativity. Diversity and inclusion fosters innovation and new perspectives encourage fresh insight into old ways of thinking and doing business.… Read More